A high LTV purchase will bleed cash at purchase.  

(blah, blah, insert bleeding heart here, blah, blah....)CORRECTION: She's a HORRIBLE tenant!

Cash flow is important because 1) you need to stay solvent and if you're bleeding each month it's going to be hard to buy new properties and 2) banks want to see positive cash flow.But generally, the real wealth in real estate is through building up equity.

A lot of investors bleed money by making terrible mistakes as landlords.

Esentially walk away from the day to day and cash out refi.A property manager has no incentive to maintain the property values, and is more likely to bleed away those values via fees.

It's about stopping the bleeding more than anything else.On Sun Via, same thing again, it's reducing the price until it sells.  

The stench of his drug addiction bleeding into other units should be addressed immediately.

The former group will bleed you dry, and the latter group is only good if the property is in good shape when you take it on and keep it that way. 

At this point, if we can sell for $150k, we will still be losing some money, but the monthly bleeding of the line of credit will end, and we can at least be free from this and put it behind us.    

@Chris Seveney is right....you will likely pay way more than you planned to finish the project, but in my opinion, the most important thing to do is stop the bleeding by finishing or cut off the arm completely by selling the property.